Hi. Trying to sort out an Excepted estate that doesn’t require probate.
The deceased was a joint tenant with his nephew, so his share of the property goes straight to him. There were limited funds in the bank account which the bank has given us access to, and no other assets.
The total value of the estate is about £201000 so no inheritance tax is due – but how do I notify HMRC as there doesn’t seem to be a relevant form, as not asking for probate. I believe there used to be an IHT205 but this is no longer valid
Hi.
No, if you do not need to apply for Probate, there is no requirement for executors to send the will to the Probate Registry.
Best wishes from Team QLAW!
Hi, Many thanks for your guidance above regarding an Excepted Estate with no Probate required. Am I required to send the Will to Probate or can I keep it ? Thanks
Hi Pat, and thank you for your query.
There remains (in my view) a significant degree of ambiguity around when and when not HMRC need to be (or not) notified in an excepted estate. It is something we have been in discussion with HMRC around (and Probate Registry).
We can not advise specifically on your circumstances without full knowledge of all aspects of the estate. But, we can confirm that where no IHT is payable, and no other aspects of the estate take it outside of the excepted estate provisions, there should be no requirement to submit anything to HMRC. Further, if you can deal with all assets without producing a Grant of Probate, no reference is needed to the Probate Registry either.
Thanks so much again for your enquiry. If you need any further help – do reach out.
